South Africa urged G20 countries to show global and cooperative leadership to tackle challenges including rising trade barriers, as the club's finance chiefs met on Thursday under the shadow of President Donald Trump's tariff threats.

President Trump has threatened to increase Mexico’s tariff rate to 30 percent starting Aug. 1, claiming the country hasn’t sufficiently tackled drug cartels.

On July 7, Trump announced 25% tariffs on imports from Japan and South Korea, effective August 1. He also announced separate rates for a number of other countries. On Tuesday, he said letters would be going out soon to dozens of smaller countries notifying them their goods would face a tariff rate of over 10%.

The chief executive of Volvo Cars urged the European Union to cut its 10% tariff on American-made cars, arguing that European automakers do not need protection from U.S. competitors, in an interview with Reuters on Thursday.

President Donald Trump's 30% tariffs on European Union goods could drive up costs across the world's alcohol trade. The EU is eyeing retaliatory measures.

The deadline for the start of Trump's heaviest tariffs has been delayed a few weeks, but a new report has nonetheless shown that inflation is once again on the rise.

TSMC, the world's main producer of advanced AI chips, is expected to post a 52% jump in second-quarter profit to record levels on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook.

Key Takeaways President Donald Trump said late Tuesday that new tariffs on semiconductors could be coming soon, though Wedbush analysts suggested his stance could soften.The analysts pointed to Nvidia's assurances from the Trump administration of licenses to resume AI chip sales to China,

Donald Trump has proposed huge levies on Brazil, prompting an outspoken response from the CEO of Embraer, which builds vital regional airliners.